Peter Schiff Takes A Jab At Investors For Choosing Bitcoin ETF Over Gold ETF, Says They 'Bet On The Wrong Horse'
Portfolio Pulse from Aniket Verma
Peter Schiff criticized Bitcoin ETFs for underperforming compared to the SPDR Gold Trust ETF, despite significant inflows. He claims investors chose the wrong asset, as gold ETFs have risen 24% while Bitcoin ETFs have gained less than 20% since January.
September 06, 2024 | 3:33 am
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POSITIVE IMPACT
The SPDR Gold Trust ETF has outperformed Bitcoin ETFs, rising 24% since January despite outflows, suggesting strong investor confidence in gold.
GLD's performance is highlighted as superior to Bitcoin ETFs, which may attract more investors to gold, boosting its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
ARK 21Shares Bitcoin ETF has increased 19.74% since January, but still lags behind the SPDR Gold Trust ETF, potentially impacting investor decisions.
ARKB's performance, while positive, is less than GLD's, which may lead investors to reconsider their positions in Bitcoin ETFs.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Fidelity Wise Origin Bitcoin Fund has risen 19.84% since January, underperforming compared to the SPDR Gold Trust ETF, which may affect investor sentiment.
FBTC's underperformance compared to GLD may lead to negative sentiment and potential outflows from Bitcoin ETFs.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
iShares Bitcoin Trust ETF has grown 19.6% since launch, underperforming compared to the SPDR Gold Trust ETF, which may affect investor sentiment.
IBIT's underperformance compared to GLD may lead to negative sentiment and potential outflows from Bitcoin ETFs.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70